News
18-4-2007
Tips for reducing depreciation
If you have been refused a loan elsewhere or have CCJ's then Log Book can provide the solution you need. In order to help you out even further, we have also listed some tips on how to avoid the value of you car falling through depreciation:
1. Avoid crashing! In order to avoid putting off potential buyers, make sure the bodywork is not damaged. Even minor crashes - the bumps and scrapes that reduce the car's value so visibly - are expensive. In fact for many drivers, about 30 per cent of their crashes occur while maneuvering. Therefore you could consider an advanced driving course, which helps you to maneuver your car safely, while reducing the risk of accidental damage and generally raising hazard awareness. Especially as more than 85 per cent of crashes are due to human error.
2. Don't buy brand new. The highest depreciation 'hit' is within the first few days of driving out of the showroom. Try to be prepared to buy a car that is already a year old, has had its first dealer service but is still covered by a manufacturer warranty. Not only will you pay less up front, as time passes your vehicle is worth proportionately more (compared to the 'brand new' price) if you trade in.
3. No chips, please. Following too closely behind a gritter lorry will do little for the car's appearance. Additionally, be careful not to scuff wheels and tar marks need to be removed promptly, along with bird droppings.
4. A cleaner car is a safer car. Buyers love a clean machine and the easiest way to keep it sparkling is to wash it regularly. Clean mirrors (internal and external) make driving less tiring, as do clear windscreens (front and rear).
5. Be meaner with your miles. Not only are short journeys the most polluting but they cause a disproportionate wear and tear on your car's engine. Motivate yourself to ask if each journey has to be driven. Car sharing, public transport, cycling or walking are cheaper more environmentally friendly alternatives. As well as doing your bit for the environment, you are saving fuel costs and keeping your car's mileage down. Local journeys may be short, but they are frequent and they all add mileage to the clock. And for best trade-in price (and easier selling generally) you want as low a mileage as possible.
Log Book loans : a loan with no credit check.
1. Avoid crashing! In order to avoid putting off potential buyers, make sure the bodywork is not damaged. Even minor crashes - the bumps and scrapes that reduce the car's value so visibly - are expensive. In fact for many drivers, about 30 per cent of their crashes occur while maneuvering. Therefore you could consider an advanced driving course, which helps you to maneuver your car safely, while reducing the risk of accidental damage and generally raising hazard awareness. Especially as more than 85 per cent of crashes are due to human error.
2. Don't buy brand new. The highest depreciation 'hit' is within the first few days of driving out of the showroom. Try to be prepared to buy a car that is already a year old, has had its first dealer service but is still covered by a manufacturer warranty. Not only will you pay less up front, as time passes your vehicle is worth proportionately more (compared to the 'brand new' price) if you trade in.
3. No chips, please. Following too closely behind a gritter lorry will do little for the car's appearance. Additionally, be careful not to scuff wheels and tar marks need to be removed promptly, along with bird droppings.
4. A cleaner car is a safer car. Buyers love a clean machine and the easiest way to keep it sparkling is to wash it regularly. Clean mirrors (internal and external) make driving less tiring, as do clear windscreens (front and rear).
5. Be meaner with your miles. Not only are short journeys the most polluting but they cause a disproportionate wear and tear on your car's engine. Motivate yourself to ask if each journey has to be driven. Car sharing, public transport, cycling or walking are cheaper more environmentally friendly alternatives. As well as doing your bit for the environment, you are saving fuel costs and keeping your car's mileage down. Local journeys may be short, but they are frequent and they all add mileage to the clock. And for best trade-in price (and easier selling generally) you want as low a mileage as possible.
Log Book loans : a loan with no credit check.